Abstract

The project goal is to improve the financial literacy of Mauritian SME owners by finding an integrated financial assistance strategy for SMEs in Mauritius in view of enhancing the financial sustainability, growth and development of their business entities. During this study, a micro-level study has been undertaken with SME owners, notably through administering of surveys and focus groups. The perspectives of other stakeholders namely the Small and Medium Enterprises Development Authority (SMEDA), the Ministry of Business Enterprise and Cooperatives, Financial institutions namely the Development Bank of Mauritius (DBM) and other commercial banks, were also gauged to identify the gaps and institutional hurdles in the sustainable financial soundness of SMEs. The project also highlights the specific gaps and needs in terms of financial education and contributes to designing the most adapted solutions in terms of training and IT to respond to these needs. Another important task of this project attempts to make an evaluation of the present IT infrastructure that exists in Mauritius to meet the financial literacy informational needs of SMEs with the aim to provide an electronic assistance strategy. Hence, this study can contribute in transforming not only local SMEs but also contribute to the economy of the country.